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TransEnterix approves a planned reverse stock split at 1-for-13 ratio

TransEnterix Inc. specified and approved a reverse stock split of its shares at a 1-for-13 ratio, effective Dec. 11.

Trading of the Morrisville, N.C.-based medical device company's shares will continue on a split-adjusted basis Dec. 12. The company will continue to trade on the New York Stock Exchange under the ticker TRXC post-split.

Following the reverse stock split, fractional shares will round up to a full share for the stockholders who hold them.